! Required information [The following information applies to the questions displayed below] Laker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 228 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning inventory. Date Activities January 1 Beginning inventory January 10 Sales January 20 Purchase January 25 Sales January 30 Purchase Totals Units Acquired at Cost 154 units @ $6.00 $ 924 Units sold at Retail 86 units @ $ 15.00 74 units @ 180 units @ 408 uits $5.00 370 94 units @ $ 15.00 $ 4.50 810 $ 2,104 180 units Required: Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific Identification, (b) weighted average. (c) FIFO, and (d) LIFO C Determine the cost assigned to ending inventory and to cost of goods sold using specific identification. For specific identification, ending inventi are from the January 30 purchase, 5 are from the January 20 purchase, and 43 are from beginning inventory. Cost of Goods Available for Sale f3 a) Specific Identification Cost of Goods Sold # of units Cost per unit Cost of Goods Available fer Sale of units sold Cost per Cost of Goods # of units in unit Sold ending inventory Ending Inventory Cost per unit Ending Inventory Beginning inventory Purchases: January 201 January 30 Total 0 $ 0 $ Specific id Weighted Average > S Specific Id Weighted Average FIFO of 3 LIFO Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. Note: Round cost per unit to 2 decimal places. b) Weighted average-Periodic Cost of Goods Sold Beginning inventory Purchases January 201 January 301 Total Cost of Goods Available for Sale # of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit # of units in Cost of Goods Sold ending inventory Ending Inve Average C per unit 5 Required information Specific Id Weighted Average FIFO of 3 LIFO Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. c) Periodic FIFO Cost of Goods Available for Safe # of units Cost per unit Cost of Goods Available for Sale # of units soldi Cost per unit Cost of Goods Sold Cost of Goods Sold Ending Inventory - # of units in ending inventory Cost per unit E love Beginning inventory Purchases: January 201 January 301 Total 0 $ $ LIFO > $ Specific Id Weighted Average FIFO LIFO Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. d) Periodic LIFO Cost of Goods Available for Safe Cost of Goods Sold Ending Inventory # of units in # of units. Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Soldi ending inventory Cost per unit En Invi Beginning inventory Purchases: January 20 January 30 Total 0 $ 0 < FIFO 0 $ 0 S LIFO